Citi’s Global Transfer Agency business announced it’s deployed Fenergo’s Client Lifecycle Management platform to digitize investor onboarding and due diligence services for regulated funds in Europe.
It enables customized policy-driven risk assessment for anti-money laundering (AML) and know your customer (KYC) checks for clients while making investor onboarding more seamless. Clients benefit from automated data validations and real-time reporting through API connectivity.
Citi’s Global Transfer Agency unit is part of the bank’s Fund Services business which caters to institutional clients including asset managers and investment managers that create and run regulated funds for institutional or retail investors.
“The Fenergo platform brings together new generation technology with in-depth working knowledge of the regulatory environment that is crucial to supporting a breadth of multi-domiciled investments across diverse asset classes,” said Larissa Sototskaya, head of Global Transfer Agency at Citi Fund Services, in a statement. “As the regulatory environment evolves, the adoption of Fenergo ensures that we move at pace with the industry while providing a real-time view of investor statuses.”
Ruth Ormsby, managing director for EMEA at Fenergo, said in a statement: “This aligns with our goal to empower financial institutions like Citi to create a more engaging experience for investors, while maintaining the highest standards of compliance and operational excellence.”